Asos shares surge on takeover talk as Danish billionaire raises stake

Asos shares soared nearly 11% this week as Danish billionaire Anders Holch Povlsen increased his stake in the online fashion retailer, sparking renewed speculation of a potential takeover bid.
Povlsen, who is Asos’s largest shareholder, upped his stake from 27% to 28%. Should he reach 30%, he would be required to make a formal takeover offer under UK rules.
The move has fuelled market chatter that he may be positioning himself to take the online fashion giant private in a bid to revive the